M&T Bank Corp Raises Holdings in KB Home (NYSE:KBH)

M&T Bank Corp grew its position in shares of KB Home (NYSE:KBH) by 29.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,184 shares of the construction company’s stock after purchasing an additional 2,082 shares during the period. M&T Bank Corp’s holdings in KB Home were worth $534,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its position in KB Home by 65.6% in the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after acquiring an additional 214 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in KB Home in the fourth quarter worth about $1,434,000. Raymond James Financial Inc. purchased a new position in shares of KB Home during the fourth quarter valued at approximately $12,288,000. Amundi boosted its position in shares of KB Home by 29.6% during the fourth quarter. Amundi now owns 880 shares of the construction company’s stock valued at $58,000 after buying an additional 201 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of KB Home by 8.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,136 shares of the construction company’s stock valued at $1,652,000 after buying an additional 1,983 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Insider Buying and Selling

In other KB Home news, Director Arthur Reginald Collins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $54.38, for a total value of $271,900.00. Following the completion of the transaction, the director owned 10,262 shares of the company’s stock, valued at $558,047.56. This trade represents a 32.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on KBH shares. Evercore ISI dropped their target price on KB Home from $77.00 to $70.00 and set an “outperform” rating for the company in a research report on Tuesday, June 24th. Barclays set a $49.00 price target on shares of KB Home and gave the company an “equal weight” rating in a research note on Tuesday, June 24th. Keefe, Bruyette & Woods decreased their price target on shares of KB Home from $65.00 to $58.00 and set a “market perform” rating for the company in a research note on Thursday, June 26th. Royal Bank Of Canada reduced their price objective on shares of KB Home from $67.00 to $63.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 25th. Finally, UBS Group reduced their price objective on shares of KB Home from $86.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, KB Home presently has a consensus rating of “Hold” and a consensus price target of $66.14.

KB Home Stock Performance

Shares of KBH stock opened at $53.67 on Wednesday. The business’s fifty day simple moving average is $53.20 and its 200-day simple moving average is $58.16. The company has a market cap of $3.65 billion, a PE ratio of 7.11, a PEG ratio of 4.45 and a beta of 1.34. The company has a current ratio of 5.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.47. KB Home has a 12-month low of $48.90 and a 12-month high of $89.70.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.05. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the company earned $2.15 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.86%. KB Home’s payout ratio is 13.25%.

KB Home Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.